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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Joe S Pack who wrote (23513)	7/27/1998 12:35:00 AM
From: Henry Niman	Respond to of 32384

Karun, In case you missed it, Ligand has delivered on it's promises. When you bought a couple of years ago, LGND was expected to have NDA's filed this year and next and they are right on target. They even threw in ONTAK, which received a unanimous (14-0) approval rec, and should get final approval very soon. The Panretin topical NDA has been filed and Bear Stearns expects approval (and I expect another unanimous approval rec) this year (but full scale launch may waiting until 1Q, 99 because of the holidays). LGND's pipeline continues to grow and mature at a very impressive rate (see home.att.net ) and their movement into designer progestins, androgens, and polypetide hormone mimics breaks into very substantial markets. As you know, there is definitely room for improvement in LGND's price, but I would attribute that largely to Biotech failures by others (at the Phase III or FDA approval level), which has produced a very depressed Biotech market. Some even have gone as far as saying that the smaller Biotechs are heading for the $1 range (look at AMLN). LGND of course has stayed ahead of the pack as it signs large deals ($200 million with LLY) and continues to advance its technology and acquire others (SRGN). I expect patient investors to be rewarded, and of course consider LGND very cheap at the present time (and in the not too distant future, I expect shareholders to view LGND's all time high of 19 3/4 to be cheap also).